Production Functions Estimates for Soviet Industry and Some Implications

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Production Functions Estimates for Soviet Industry and Some Implications

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Oldrich Kyn (Boston University)
Hans-Juergen Wagener (Europa Universitat Viadrina, Frankfurt Oder)
Joerg Hocke (----)

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Oldrich Kyn

Abstract

This study presents estimation of production functions for the Soviet industry from the 1951—1970 data. Different specifications and estimation procedures were tried. The results diverged on a wide range and this may have serious implications. The paper shows possible effects of different parameter estimates on the growth potential of the Soviet industry as represented by a steady state growth rate according to a very simple neo-classical model. This does not necessarily imply that such a model is truly representative of the Soviet-type economy, however, the growth potential can very well serve to demonstrate the difficulties stemming from the errors in estimated parameters.

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Paper provided by EconWPA in its series Econometrics with number 0511003.

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Date of creation: 03 Nov 2005
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Handle: RePEc:wpa:wuwpem:0511003

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Find related papers by JEL classification:
C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General
C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
C5 - Mathematical and Quantitative Methods - - Econometric Modeling
C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs

This paper has been announced in the following NEP Reports:

NEP-ALL-2005-11-12 (All new papers)
NEP-TRA-2005-11-12 (Transition Economics)

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This page was last updated on 2009-11-20.

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